Minhajur Rahaman
Principals of Accounting Solutions
Problem-07: Corporations: Dividends, Retained Earnings, and Income Reporting
Knudsen Corporation was organized on January 1, 2019. during its first year, the corporation issued ...
Problem-9: Completing the Accounting Cycle
Worksheet data for Savaglia Company are present as follows
Savaglia Company Worksheet (partial)For ...
Problem-1: Incremental Analysis and Capital Budgeting
Three Point Sports Inc. manufactures basketballs for the Women's National Basketball Association (WN...
Problem-20: Current Liabilities and Payroll Accounting
Podsednik Corporation has 20 employees who each earn $140 a day. The following information is availa...
Problem-23: Plant Assets, Natural Resources and intangible Assets
During 2019, Paola Corporation reported net sales of $3,500,000 and net income of $1,500,000. Its ba...
Problem-16: Budgetary Planning
Atlanta Company is preparing its manufacturing overhead budget for 2020. Relevant data consist of th...
Problem-07: Investments
Jenek Corporation had the following transactions pertaining to debt investments
Purchased 50 9%, $1...
Problem-4: Completing the Accounting Cycle
Vang Management Services began business on January 1, 2019, with a capital investment of $120,000. t...
Problem-10: Fraud, Internal Control, and Cash
The information below relates to the cash account in the ledger of Mintion Company.
Balance Septemb...
Problem-8: Inventories
Dempsey Inc is a retailer operating in British Columbia. Dempsey uses the perpetual inventory method...
Problem-11: Accounting for Receivables
The Jedger of Costello Company at the end of the current year shows Accounts Receivable $110,000, Sa...
Problem-8: Budgetary Planning
Thome and Crede, CPAs, are preparing their service revenue budget for the coming year (2020). The pr...
Problem-09: Investments
Hulse Company had the following transactions pertaining to stock investments.
Feb. 1Purchased 600 s...
Problem-11: Plant Assets, Natural Resources and intangible Assets
Benedict Company incurred the following costs.
Instructions
Indicate to which account Benedict w...
Problem-03: Corporations: Organization and Capital Stock Transactions
The stockholders equity accounts of Castle Corporation on January 1, 2020, were as follows
Preferre...
Problem-16: Accounting for Receivables
Presented below are two independent situations.
On April 2, Jennifer Eiston uses her JCPenney Compa...
Problem-15: Long-Term Liabilities
Whitmore Company issued $500,000 of 5-year, 8% bonds at 97 on January 1, 2021. the bonds pay interes...
Problem-17: Financial Statement Analysis
Selected Comparative statements data for Queen products company are presented below. All balance she...
Problem-18: Inventories
Shawn Company had 100 units in beginning inventory at a total cost of $10,000. The company purchased...
Problem-13: Accounting for Receivables
At December 31, 2019, Finzelberg Company had a credit balance of $15,000 in Allowance for Doubtful A...
Problem-06: Corporations: Dividends, Retained Earnings, and Income Reporting
On January 1, Guillen Corporation, had 95,000 shares of no-par common stock issued and outstanding. ...
Problem-17: Long-Term Liabilities
Presented below are three independent situations.
Longbine Corporation redeemed $130,000 face val...
Problem-4: The Recording Process
The trial balance of Avtar Sandhu Co. Shown below does not balance
AVTAR SANDHU CO.Trial BalanceJun...
Problem-01: Long-Term Liabilities
On May 1, 2019, Herron Corp. issued $600,000, 9%, 5-year bonds at face value. The bonds were dated M...
Problem-3: The Recording Process
Maquoketa Services was formed on May 1, 2018. The following transactions took place during the first...
Problem-17: Accounting for Merchandising Operations
In its income statement for the year ended December 31, 2019. Anhad Company reported the following c...
Problem-3: Accounting for Receivables
Presented below is an aging schedule for Halleran Company.
At December 31, 2019, the unadjusted b...
Problem-15: Standard Costs and Balanced Scorecard
The standard cost of product B manufactured by pharrell Company includes there units of direct mater...
Problem-19: Budgetary Planning
Danner Company expects to have a cash balance of $45,000 on January 1, 2020. Relevant monthly budge...
Problem-6: Inventories
You are provided with the following information for Gobler Inc. uses the periodic method of accounti...
Problem-11: Current Liabilities and Payroll Accounting
Gallardo Co. is involved in a lawsuit as a result of an accident that took place September 5, 2020. ...
Problem-03: Process Costing
Thakin Industries Inc. manufactures dorm furniture in separate processes. In each process, materials...
Problem-07: Current Liabilities and Payroll Accounting
On June 1, Merando Company borrows $90,000 from First Bank on a 6-month, $90,000, 8% note
Instructi...
Problem-29: Accounting for Merchandising Operations
Presented below are selected accounts for T. Swift Company as reported in the worksheet at the end o...
Problem-17: Managerial Accounting
Keisha Tombert , the bookkeeper for Washington Consulting, a political consulting firm, has recently...
Problem-14: Corporations: Organization and Capital Stock Transactions
Tran Corporation is authorized to issue both preferred and common stock. The par value of the prefer...
Problem-15: Adjusting the Accounts
Selected accounts of Holly Company are shown as follows.
Instructions
After analyzing the acco...
Problem-1: Completing the Accounting Cycle
The trial balance columns of the worksheet for Wareen Roofing at March 31, 2019, are as follows.
Wa...
Problem-18: Budgetary Control and Responsibility Accounting
Fey Company's organization chart includes the president; the vice president of production; three ass...
Problem-13: Corporations: Dividends, Retained Earnings, and Income Reporting
On January 1, 2020, Eddy Corporation had retained earnings of $650,000. During the year, Eddy had th...
Problem-23: Statement of Cash Flows
The following information is taken from the 2020 general ledger of Swisher Company
Instructions
...
Problem-21:Cost Volume Profit
Crate Express Co. produces wooden crates used for shipping products by ocean liner. In 2020, Crate E...
Problem-5: Accounting in Action
Financial statement information about four different companies is as follows:
Instructions
Det...
Problem-5: The Recording Process
The Starr Theater, owned by Meg Vargo will begin operation in March. The Starr will be unique in tha...
Problem-9: Standard Costs and Balanced Scorecard
Using the information in P25-1A, compute the overhead controllable variance and the overhead volume ...
Problem-14: Accounting for Merchandising Operations
Tim Jarosz Company had the following account balances at year-end; Cost of Goods Sold $60,000, Inven...
Problem-08: Process Costing
Robert Wilkins has prepared the following list of statements about process cost accounting.Contact u...
Business Statistics Solutions
Problem-37: Grouping and Displaying data to convey meaning
Before constructing a dam on the Colorado River, the U.S. Army Corps of Engineers performed a series...
Problem-44: Measures of Central Tendency and Dispersion in Frequency Distributions
The ages of residents of Twin Lakes Retirement Village have this frequency distribution:
ClassFrequ...
Problem-22: Chi-Square and Analysis of Variance
A large city fire department calculates that for any given precinct, during any given 8-hour shift, ...
Problem-51: Chi-Square and Analysis of Variance
Mr. Raj, an investor, has narrowed his search for a mutual fund down to the Oppy fund or the
MLPFS ...
Problem-70: Probability Distribution
The Virginia Department of Health and Welfare publishes a pamphlet, A Guide to selecting your Doctor...
Problem-22: Testing Hypotheses: Two Sample Tests
Additives-R-Us has developed an additive to improve fuel effi ciency for trucks that pull very heavy...
Problem-35: Probability I: Introductory Ideas
A grocery store is reviewing its restocking policies and has analyzed the number of half-gallon cont...
Problem-04: Sampling and Sampling Distributions
In a sample of 19 observations from a normal distribution with mean 18 and standard deviation 4.8
Problem-64: Probability I: Introductory Ideas
Which of the following pairs of events are mutually exclusive?
(a) A defense department contractor ...
Problem-32: Measures of Central Tendency and Dispersion in Frequency Distributions
For the following frequency distributions, determine
Problem-17: Grouping and Displaying data to convey meaning
Here are the ages of 30 people who bought video recorders at symphony Music Shop last week:
Problem-64: Testing Hypotheses: One Sample Tests
In 1995, the average 2-week-advance-purchase airfare between Raleigh-Durham, North Carolina, and New...
Problem-08: Grouping and Displaying data to convey meaning
A recent concerning the habits of U.S. cable television consumers produced the following data.
Problem-63: Testing Hypotheses: One Sample Tests
State inspectors, investigating charges that a Louisiana soft-drink bottling company underfills its ...
Problem-27: Testing Hypotheses: Two Sample Tests)
Two different areas of a large eastern city are being considered as sites for day-care centers. Of 2...
Problem-26: Measures of Central Tendency and Dispersion in Frequency Distributions
Bob Headen is calculating the average growth factor for this stereo store over the last 6 years. Usi...
Problem-11: Sampling and Sampling Distributions
Calvin Ensor, president of General Telephone Corp, is upset at the number of telephones produced by ...
Problem-11: Sampling and Sampling Distributions
A recent study by the EPA has determined that the amount of contaminants in Minnesota lakes (in part...
Problem-65: Testing Hypotheses: One Sample Tests
Audio Sounds runs a chain of stores selling stereo systems and components. It has been very successf...
Problem-36: Testing Hypotheses: One Sample Tests
From a total of 10,200 loans made by a state employees’ credit union in the most recent 5-year perio...
Problem-27: Sampling and Sampling Distributions
Miss Joanne Happ, chief executive officer of Southwestern Life & Surety Corp, wants to undertake a s...
Problem-06: Sampling and Sampling Distributions
In a normal distribution with mean 375 and standard deviation 48, how large a sample must be taken s...
Problem-62: Testing Hypotheses: One Sample Tests
Federal environmental statutes applying to a particular nuclear power plant specify that recy- cled ...
Problem-28: Sampling and Sampling Distributions
By reviewing sales since opening 6 months ago, a restaurant owner found that the average bill for a ...
Problem-41: Probability Distribution
Given that a random variable, X, has a binomial distribution with n = 50 trials and p = 0.25, use th...
Problem-14: Probability I: Introductory Ideas
General Buck Turgidson is preparing to make his annual budget presentation to the U.S. Senate and is...
Problem-20: Testing Hypotheses: Two Sample Tests
The data below are a random sample of 9 firms chosen from the “Digest of Earnings Reports” in The Wa...
Problem-35: Measures of Central Tendency and Dispersion in Frequency Distributions
For the following frequency distributions,
Problem-10: Sampling and Sampling Distributions
An oil refinery has backup monitors to keep track of the refinery flows continuously and to prevent ...
Problem-26: Sampling and Sampling Distributions
Food Place, a chain of 145 supermarkets, has been bought out by a larger nationwide supermarket chai...
Problem-13: Probability Distributions
We Car Air needs to make a decision about Flight 105. There are currently 3 seats reserved for last-...
Problem-10: Probability Distributions
Ted Olson, the director of Overnight Delivery, Inc, has become concerned about the number of first-c...
Problem-76: Probability I: Introductory Ideas
Draw Venn diagrams to represent the following situations involving three events, A, B, and C, which ...
Problem-50: Probability Distribution
On the basis of past experience, automobile inspectors in Pennsylvania have noticed that 5 percent o...
Problem-9: Testing Hypotheses: One Sample Tests
Martha Inman, a highway safety engineer, decides to test the load-bearing capacity of a bridge that ...
Problem-41: Measures of Central Tendency and Dispersion in Frequency Distributions
Here are the ages in years of the cars worked on by the Village Autohaus last week:
Problem-14: Testing Hypotheses: One Sample Tests
In a trial, the null hypothesis is that an individual is innocent of a certain crime. Would the lega...
Problem-61: Testing Hypotheses: One Sample Tests
If we wish to accept the null hypothesis 85 percent of the time when it is correct, within how many ...
Problem-16: Sampling and Sampling Distributions
From a population of 125 items with a mean of 105 and a standard deviation of 17,64 items were chose...
Problem-01: Chi-Square and Analysis of Variance
A brand manager is concerned that her brand’s share may be unevenly distributed through-out the coun...
Problem-41: Testing Hypotheses: Two Sample Tests
In 1992, a survey of 50 municipal hospitals revealed an average occupancy rate of 73.6 percent, and ...
Problem-01: Probability Distributions
Construct a probability distribution based on the following frequency distribution.
Outcome10210510...
Problem-57: Testing Hypotheses: Two Sample Tests
TV network executive Terri Black has just received a proposal and a pilot tape for a new show. Empty...
Problem-04: Probability I: Introductory Ideas
A batter "takes" (does not swing at) each of the pitches he sees. Give the sample space of outcomes ...
Problem-27: Probability Distributions
Given a binomial distribution with n = 28 trials and p = 0.025, use the poisson approximation to the...
Problem-03: Measures of Central Tendency and Dispersion in Frequency Distributions
Child-Care Community Nursery is eligible for a county social services grant as long as the average a...
Problem-33: Chi-Square and Analysis of Variance
An Introduction to Economics course is offered in 3 sections, each with a different instructor. The ...
Problem-15: Estimation
Gwen Taylor, apartment manager for Willow Wood Apartments, wants to inform potential renters about h...
Problem-28: Probability Distributions
Given a binomial distribution with n = 30 trials and p = 0.04, use the poisson approximation to the ...
Problem-10: Testing Hypotheses: One Sample Tests
Formulate null and alternative hypotheses to test whether the mean annual snowfall in Buffalo, New Y...
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Most Reading Solutions
Problem-5: Completing the Accounting Cycle
Anya Clark opened Anya's Cleaning Service on July 1, 2019. During July, the following transactions w...
Problem-5: Adjusting the Accounts
On Nobember 1, 2019, the account balances of Hamm Equipment Repair were as follows
During Novembe...
Problem-1: Completing the Accounting Cycle
The trial balance columns of the worksheet for Wareen Roofing at March 31, 2019, are as follows.
Wa...
Problem-2: Accounting for Merchandising Operations
Renner Hardware Store completed the following merchandising transactions in the month of May. At the...
Problem-2: The Recording Process
Emily Valley is a licensed dentist. During the first month of the operation of her business, the fol...
Problem-1: Adjusting the Accounts
Logan Krause started her own consulting firm, Krause Consulting, on May 1, 2019. The trial balance a...
Problem-2: Adjusting the Accounts
Mac's Motel opened for business on May 1, 2019. Its trial balance before adjustment on May 31 is as ...
Problem-3: The Recording Process
Maquoketa Services was formed on May 1, 2018. The following transactions took place during the first...
Problem-5: Accounting for Merchandising Operations
The trial balance of Gaolee Fashion Center contained the following accounts at November 30, the end ...
Problem-1: Accounting in Action
On April 1, Julie Spengel established Spengel's Travel Agency. The following transactions were compl...
Problem-5: The Recording Process
The Starr Theater, owned by Meg Vargo will begin operation in March. The Starr will be unique in tha...
Problem-1: The Recording Process
Holz Disc Golf Course was opened on March 1 by Ian Holz. The following selected events and transacti...
Problem-1: Accounting for Merchandising Operations
Kern's Book Warehouse distributes hardcover looks to retail stores and extends credit terms of 2/10,...
Problem-2: Completing the Accounting Cycle
The adjusted trial balance columns of the worksheet for Thao Company, owned by D. Thao, are as follo...
Problem-5: Inventories
You are provided with the following information for Koetteritz Inc. for the month ended June 30, 201...
Problem-8: Accounting for Merchandising Operations
At the beginning of the current season on April, the ledger of Gage Pro Shop showed Cash $3,000. Inv...
Problem-2: Accounting in Action
Judi Salem opened a law office on July 1, 2018. On July 31, the balance sheet showed Cash $5,000, Ac...
Problem-10: Adjusting the Accounts
The ledger of Passehl Rental Agency on March 31 of the current year includes the selected accounts, ...
Problem-3: Accounting for Merchandising Operations
Big Box Store is located in midtown Madison. During the past several years, net income has been decl...
Problem-6: Adjusting the Accounts
Johnson Graphics Company was organized on January 1, 2019, by Cameron Johnson. At the end of the fir...
Problem-5: Plant Assets, Natural Resources and intangible Assets
At December 31, 2019, Grand Company reported the following as plant assets.
During 2020, the foll...
Problem-4: Accounting in Action
Trixie Maye started her own consulting firm, Matrix Consulting, on May 1, 2018. The following transa...
Problem-3: Adjusting the Accounts
Alena Co. was organized on July 1, 2019. quarterly financial statements are prepared. The unadjusted...
Problem-4: Accounting for Merchandising Operations
Yolanda Hagen, a former disc golf star, operates Yolanda's Discorama. At the beginning of the curren...
Problem-10: Accounting for Merchandising Operations
On September 1, Nixa Office Supply had an inventory of 30 calculators at a cost of $18 each. The com...
Problem-2: Plant Assets, Natural Resources and intangible Assets
In recent years, Avery Transportation purchased three used buses. Because of frequent turnover in th...
Problem-2: Inventories
Glee Distribution markets CDs of the performing artist Unique. At the beginning of October, Glee had...
Problem-1: Accounting for Receivables
At December 31, 2018, House Co. reported the following information on its balance sheet.
Accounts r...
Problem-15: Inventories
Elsa's Boards sells a snowboard, Xpert, that is popular with snowboard enthusiasts, Information rela...
Problem-4: Accounting Information Systems
Selected accounts from the chart of accounts of Mercer Company are shown below
101 Cash112 Accoun...
Problem-01: Corporations: Dividends, Retained Earnings, and Income Reporting
On January 1, 2020, Geffrey Corporation had the following stockholders equity accounts.
Common St...
Problem-01: Current Liabilities and Payroll Accounting
On January 1, 2020, the ledger of Accardo Company contains the following liability accounts.
Accoun...
Problem-8: Adjusting the Accounts
Devin Wolf Company has the following balances in selected accounts on December 31, 2019
All the a...
Problem-4: The Recording Process
The trial balance of Avtar Sandhu Co. Shown below does not balance
AVTAR SANDHU CO.Trial BalanceJun...
Problem-8: Inventories
Dempsey Inc is a retailer operating in British Columbia. Dempsey uses the perpetual inventory method...
Problem-3: Plant Assets, Natural Resources and intangible Assets
On January 1, 2019, Evers Company purchased the following two machines for use in its production pro...
Problem-3: Accounting Information Systems
The chart of accounts of LR Company includes the following selected accounts.
112 Accounts Receiv...
Problem-02: Current Liabilities and Payroll Accounting
The following are selected transactions of Blanco Company. Blanco prepares financial statements quar...
Problem-3: Completing the Accounting Cycle
The completed financial statement columns of the worksheet for Bray Company are shown as follows.
B...
Problem-4: Completing the Accounting Cycle
Vang Management Services began business on January 1, 2019, with a capital investment of $120,000. t...
Problem-3: Accounting for Receivables
Presented below is an aging schedule for Halleran Company.
At December 31, 2019, the unadjusted b...
Problem-1: Accounting Information Systems
Kozma Company's chart of accounts includes the following selected accounts.
101 Cash112 Accounts ...
Problem-17: Inventories
Moath Company reports the following for the month of June.
Instructions
Compute the cost of en...
Problem-9: Accounting for Merchandising Operations
Information related to Kerber Co. is presented below
On April 5, purchased merchandise from Wilkes ...
Problem-4: Adjusting the Accounts
A review of the ledger of Remina Company at December 31, 2019, produces the following data pertainin...
Problem-1: Job Order Costing
Lott Company uses a job order cost system and applies overhead to productions on the basis of direct...
Problem-3: Accounting in Action
On June 1, Cindy Godfrey started Divine Designs Co., a company that provides cash opportunities by i...
In a survey conducted of 2,000 clerks in an office it found that 48%preferred coffee (C), 54% liked Tea (T) and 64% used to smoke (S). Of the total 28% used C and T, 32%...
the number having all the three
T and S but not C
only C
Problem-01: Long-Term Liabilities
On May 1, 2019, Herron Corp. issued $600,000, 9%, 5-year bonds at face value. The bonds were dated M...
Problem-16: Plant Assets, Natural Resources and intangible Assets
Linton Company purchased a delivery truck for $34,000 on January 1, 2019. The truck has an expected ...
Completing the Accounting Cycle Adjusting the Accounts Accounting for Merchandising Operations The Recording Process Accounting in Action Inventories Plant Assets, Natural Resources, and Intangible Assets Accounting for Receivables Accounting Information Systems Corporations: Dividends, Retained Earnings, and Income Reporting Current Liabilities and Payroll Accounting Job Order Costing Sets Long-Term Liabilities